Money
Nepse closes week 6.14 pts down
Nepal Stock Exchange (Nepse) fell 6.14 points last week to close at 863.01 points.Narendra Raj Sijapati, president of Nepal Stockbrokers’ Association, said the implementation of paperless stock transaction system by CDS and Clearing Limited (CDSCL) and an unfavourable political situation was behind the fall. “Investors are confused about the electronic transaction system,” he said.
Nepse has already implemented the paperless transaction for the buyers of commercial bank shares and it plans to enforce the system for sellers too from January 16, 2015. Although the confusion among investors has hit the market initially, experts say the system will send the market soaring once it is fully implemented.
Almost all trading groups lost points last week. Insurance companies, down 63.64 points, led the losers’ side comprising hydropower companies, others, finance companies, development banks, commercial banks and hotels.
Manufacturing and trading sub-indices remained stable at 1,233.59 points and 185.17, respectively. The sensitive index that measures the performance of blue chips fell 1.53 points to close at 184.3 points.
Chilime Hydropower Company posted the highest individual turnover of Rs 45.54 million. It was followed by Nepal Life Insurance, Everest Bank, Soaltee Hotel and Clean Energy Development Bank. National Hydropower Company took the pole in terms of the number of shares traded (137,000 units).
The overall market transaction fell 43.81 percent to Rs 634.4 million. The number of traded shares also dropped to1,442,190 from 2,549,430.